Used in organic synthesis as an intermediate for pharmaceuticals and bioactive compounds. Serves as a building block in the development of indole-based derivatives with potential biological activity, including antimicrobial, anti-inflammatory, and central nervous system agents. Commonly employed in research settings for structure-activity relationship studies due to the modifiable hydroxy and ester functional groups. Also utilized in the preparation of fluorescent probes and dyes owing to the inherent photophysical properties of the indole scaffold.